TEAM Nation Holdings (TEMN) released the following news:
TEAM Nation Announces Re-Branding of California Subsidiary Allowing for $2,000,000 to $5,000,000 in Additional Gross Revenue From Settlement Services
IRVINE, CA–(Marketwire – 03/21/11) – TEAM Nation Holding Corporation (“TEAM”) (OTC.BB:TEMN) is pleased to announce that on January 26, 2011 it amended the articles of its wholly owned subsidiary, TEAM Nation Holding Corporation, a California corporation (“TSS”), to change its name to TEAM Settlement Solutions. The change is deemed appropriate to distinguish the operating company from the parent holding company and to reinforce the subsidiary’s focus on providing national settlement services to the 350M + US Settlement Services market. Settlement services combine ancillary services such as notary, tax, flood, and appraisal with core closing and escrow functions to create an enhanced service level and one stop shop for the real estate industry in the execution of its transactions. TEAM Settlement Solutions expects to launch its new brand concept on April 1, 2011 and projects to generate $2,000,000 to $5,000,000 in additional gross revenue from Settlement Services during the following 18 to 24 months. The amendment was filed by the Secretary of State of California on January 28, 2011.
Dennis R. Duffy, Cofounder and Board member of TEAM stated,
“The re-branding of our California subsidiary will help the market distinguish the primary objectives of our separate operating units. As we move into our growth cycle in 2011, we feel it necessary to clearly indicate that TSS is a national settlement provider. We felt the distinctions were necessary a message lost in the all-encompassing previous brand name.”